Indianapolis Times, Indianapolis, Marion County, 27 January 1937 — Page 18

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Trends Neutrality Policy

Is Defended, by Writer.

BY JOHN T. FLYNN

Abreast 0 The Times on Finance

PAGE 18

WEDNESDAY, JANUARY 27, 1937

rency William Prentiss Jr.

Bank Dividends Gain Dividends totaling $800,000,000 have been paid to

depositors by insolvent national banks during the last four years, according to Deputy Controller of Cur-

EW YORK, Jan. 27. — Miss

Dorothy Thompson makes an,

argument against the continuance

of strengthening of our neutrality.

policy in the event of a foreign war. That policy consists of (a) prohibition of sales of munitions and raw materials of munitions to both sides in the event of a war; (b) prohibition of sales of any merchandise for shipment on American ships. Belligerents can buy nonmilitary commodities but must take it away themselves and pay "cash — the cash-and-carry policy. Also (¢), the United States will permit no loans or commercial credits to belligerents. The argument raised against this is well put by Miss Thompson. It is as follows: If we notify the world that we will sell no munitions or munition raw materials in the event of war, then other nations will cease to buy such things from us in times of peace. To buy from us in peace times will be merely supporting and building up an industry which will fail them in war. 2 = 2 HERKEFORE they will seek to develop their own munition industries and raw materials or substitutes. And they will trade, as far as is necessary, with nations they can depend on in their moment of dire need. This will tend to push further the already strong drift toward economic nationalism, which is a strong contributing cause of the depression, .and it will drive nations to form into self-sufficient groups for offensive and defensive purposes. There are other parts of this ar«

gument, but I can only notice this one here. The argument refers to

muniticns . and raw materials of munitions. As to munitions, they include war vessels, ‘war planes, guns, explosives. The possibility held out to us is that if we will not sell these things when war breaks out, then foreign nations will stop buy= ing them from us now. But that does not seem to be a very terrible outlook. It would, I think, be an excellent thing is this were to happen.

Mr. Flynn

#2 » 2

N the field of raw materials, the case is somewhat different. The fear is that nations will attempt to develop their own supplies now if they know ours will be cut off in’ the event of war. This would be a reasonable argument were it not for the fact -thdt for 10 years foreign warlike countries have, to the very limit of their capacities and resources, been doing this very thing. A neutrality law would not drive them harder for they do this

now to the very last cunce ofgtheir ‘ability. As to the nonmunriti rade,

there the neutrality plan does not include embargoing the sale to bel= ligerents of these. In the event of war the belligerents could buy all they could carry away in their own or other nation’s ships. The only limitation would be that we would hot permit shipments to the belligerents in our ships, “wrapped: up,” as Senator Nye has put it, “in the American flag as insurance.” (Copyright, 1937, NEA Service, Inc.)

New Bond Issues

(By W. L. Lyons & ook 1 Allied: Stores 4l2s ’51.........100'a Ark La Gas 4s ’51 100 Argentine Rep 23:8 71. Armour 4s ’57 Ass’d A oe B &

Calif Bs 0 45 "65. Cent Maine Pwr 4s 60 Cent Maine Pwr 3's ’66 Cincinnati G 4 Cleve Tractor G L

Cudahy Pkg 4s Fla Power 4s ’6 Fla Power 5s '66 Great Nor 334s Houston Lt & Pwr 31%s ’66 Indianapolis Water 312s ’66 Iowa Sq 0 Kansas P & L 4 Koppers Co 4s 5 Long Island R R Los Angeles G & E is Louisville S & E 3! Mengel CV Metro Ed 4s ’65 Minn Gas & Lite 4s #50 Narra Elec 3'2s ’66 New England Pow 4Yss '61 ... N Y State Elec Gas 4s ’65 .... Ohio Baise, vas 72

Peo Gas i Coe 13 '61 Penn Tel 4s Railway & Lite Bec a), Sou Cal G & E 65

98%s 106%4

a 1041% 10534

Local Securities

(Bv Indianapolis Bond and Share Corp.)

The following quotations do not reprebut merely

sent actual bids or offerings, indicate .the ° approximate based on buying and selli recent transactions.

BONDS

Indpls SR Iey Inc 5 "67. . Indpls Water Co 3's ’66...... Interstate Tel & Tel 5las ’53.. 9 Kokomo Water Works 5s ’58.. Morris 5 & 10 Stores 5s ’50..100 Muncie Water Yous, 5s T30+ Noblesville HL & P 6 4 Ohio Tel Serv 6s 47 Richmond W W 5s Seymour Water So $s '49 Trac & L T H Water Works 5s '56 T H Water Works, 3 '49 Trac Term Co 5s Indiana Tel Co 5s 3

Belt Rallroad & St Yrds com.. Belt Railroad & St Yds pfd.. Cent Ind Pwr pfd Ts . Home Tel = To Fy Wayne. oe Sook Dru

CONSTRUCTION IN LOCAL AREA BRIGHT IN 1336

Private Building 38 Per Cent Ahead of 1935; Totals $6,869,500.

Building in the Indianapolis area during 1936 showed some bright spots, according to figures of actual contracts awarded during the year released by F. W. Dodge Corp. With business especially dependent upon private construction as differentiated from public construction, private construction here advanced 38 per cent over the total for 1935, the report said. Private building in the Indianapolis areas amounted to $6,869,500 during 1936 making a favorable comparison with $4,951,000, the sum for 1935, it was reported.

Home Building’ Up

During the December just ended this class of construction held its

| momentum as evidenced by the

$491,500 in actual contracts awarded in comparison with $356,800 for December, 1935. Residential building, always an important item in the private class, is reported by the home owners catalog division of the corporation, as larger during the December just ended than during December, 1935. Contracts awarded in this class of construction during December amounted to $320,500, whereas in December, 1935, they amounted to $286,100. These figures are drawn for the Indianapolis area. which covers Marion County with a total 1930 population of 422,666 persons.

Total Up 12 Per Cent

A 12 per cent advance in total construction for the year 1936 is evidenced in the figures $11,046,000, which compares favorably with $9,840,800 for all types of building

in 1935.

Public works and utilities took a slight drop during 1936 as shown in the sum $1,074,000 which compares with $1,922,500, the sum for 1935. This drop was due to the slowing up of the Government’s public works program, the report declared. A significant gain was made in the Indianapolis area in nonresidential building where the increase was 62 per cent for the year just ended over the year 1935. Six million six hundred twenty-three thousand three hundred was the amount of nonresidential building in this area as compared with $4,071,300 for the previous year, Dodge said.

Chicago Stocks

(By Atkins, Hamill & Gates) Prev. Close. Adams Manufacturing 2 1 Asbestos Manufacturing 3% Bastian Blessing Bruce Central Illinois Publ Service... Cities Service Cord Corp Dayton Rubber Cunningham Drug Electrical Household General Household Great Lakes Dredge Jarvis Con Ken-Rad Tube Libby McNeil . and Libby Lion Oil Marshall Field Mid-West Corp pid Nachman Spring Filled ...... Northwest Engineers . Noblitt Sparks Northwest Bank Perfect Circle Public Service North 0 NBs Swift International .... Schwitzer-Cummins Williams Oil-O-Matic Woodall Zenith

New York Curb

(By Atkins, Hamill & Gates)

2 Sloe Close. Aluminum Co of America.....161 161%2 American Airline . 28% i Cynamid 33Y, Am Gas and Electric . American General ~.. Arkansas Noyutal Gas * Carrier C Chicago Flexible’ Shaft” Columb ia hl

. 13%

Detroit Grey Iron .. Eagle Picher Lead Electric Bond and Share. Ford Motors, Canada a General Tire Greenfield Tap and Die . Gulf Oil. Pen . Humble Oil A Refining Co .. International Vitamin Lion Mv asiniieineen seen vas National Rubber cane Niagara Hudson Power Pan-American A\rveys Root Fetroleum

Standard Oil of © Sterchi Brothers Stutz Motors Sunray Oil Twin Coach Woodley Petroleum -

Money and Exchange

INDIANAPOLIS STATEMENT

Cleatings savers vn anenny FY 32.631.00 Debit 6,824,000

TREASURY DEPARTMENT (By United Press)

WASHINGTON, Jan. 27. — Government expenses and receipts for the current

year ending Jan. 25, compared with a year

ago Expenses. . 184, 1087 he, 3% 53 4, 155 $93.1} .. 2.399.390 Pann PACE . 1,707,227 4 97 2 92,417.08 1,747,265.50] 64 2 094 457, 50% £4 Hin nse ).304,0 3.172 '329.297.% 250,813, 458.11 217.222, 24

Produce Markets (Reprinted From Yate Times, Yesterday) nr stork tor deliyzre 1 cent ews m ust weigh

17c Lio:

Customs

UY lissh, use off, VY Lresd, Lens

3 4 ® Y Leal. Ee es he i ne par,

7 10, aa urkeys, young “19 hs. and over, 4 hens, 9c: No, gc. Ho 1, 26937c; No. 2, - . 3c; No. 2, 31c.

lc; 33 34c.

frum,

No. 3

services.

ported for taxation purposes in fiedly made subject to demand. Compensation credited to the account of or set apart for a taxpayer, without any substantial limitation or restriction, and which may be drawn upon by him at any time, is subject to tax for the year during which 50 credited or set apart, although not then actually reduced to pos= session. If the services were rendered during the year 1935, or even prior thereto, but the compensation was not received, or made

by the taxpayer until the year 1936, the entire amount is taxable in the year received, or - made unqualifiedly subject to demand, when the taxpayer is reporting on the cash receipts and disbursements basis, which is the basis ‘used by most persons in reporting net income.

E-4 ” 3 HE names of all employees to whom payments of $1000 or over a year are made must be reported. The information return should be made on form 1099, accompanied by transmittal form 1096 showing the number of returns filed. These returns should be filed on or before Feb. 15, 1937. All of the various types of compensation, unless specifically exempt by statute, or exempt by

unqualifiedly subject to demand, -

Your Federal Income Tax

Names of All Employees Earning More Than

$1000 a Year Must Be Reported to U. S.

WHEN TO REPORT INCOME FROM SALARIES, WAGES, ETC. F the millions of income tax returns that are filed an-

nually, the vast majority are from salaried persons and wage earners whose income is derived from personal

In general, compensation for personal services should be re-

the year it is received or unquali-

fundamental law, should be included in the taxpayer’s return of gross income, such as salaries, wages, fees, commissions, bonuses, tips, honorariums, prizes, awards, retiring allowances for past services, etc. Where services are paid for in - whole or in part with something other than money, the fair market value of the thing taken in payment must be included as income,

Other items subject to tax are fees received by ministers of the gospel for funerals, baptisms, masses, and like services; executors’ fees; directors’ fees; Federal jury fees, and prizes received in contests of various kinds, The salaries of Federal officers and employees are subject to tax, including the salary of the President of the United States and judges of courts of the United States taking office after the date of enactment of the Reve- . nue ‘Act of 1932, which was June 6, 1932. The salary of the Vice President of the United States, and the salaries of members of the House of Representatives and the members of the United States Senate are also subject to income tax.

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) 20 20 20 60 Inds. ceeen.eei. 94.8 eesesss 94.9 100.5 95.0 101. 3 94.3 99. 5.3 92.7 oa TEE oa 95.0 106.0 100.7 94.4 105.6 100.0

Today Yesterday Week ABO ...ceee Month AGO eeceee Year Ago 1937 High 1937 Low Xx—New Low.

(Copyright, 1937, by Standard Statistics)

U. S. GOVERNMENT BONDS (By F. S. Moseley & Co.) Treasurys

Close, sesessesescenses 120.7 esesssscncessess 114.9 escesssssssesess 113.10 eoesesssees 107.7

1947-52 4

tieecssssecanne 105 ie eecsssecsecsesss 104

ecsssscecsscesss 103.2 tetestsetssanans J02.51 0 Jo4.

2} ios

Home Owners Loan ii 2Y4s 1942-44 ..... erineriosvane J02 10 2%s 1949 3s 1952 Federal Farm Merieaze Corp. 1964 Vevesa 949 . ; 3 1942-47 .. 2%s 1949

3 Yas

DOMESTIC Today’s Bond Leaders—

Close, Ill Central 53 ’63 ............ 85 Lehigh Valley 4s 2003 ........ 66% New Orleans P 8 55 '55 ...... 92 N YChi & St L 4%28 '78 ...... 92 Rep Steel 425 ’50 ............138Y;

re —

Close. Alleg Corp 5s '54....¢.c0.0., Alleg Corp 58 49. ...civevvrss Alleg Corp 5s ’50....... ak Am Frgn Pow 5s 2030 Am Tel & Tel 5%s a. Arm & Co (Del) 4s ’5 Atl Coast Line as ’52

Atch Top & S Fe i Am Wat Wks 6s ’7

i ’95. *#isnwsenc 7 Balt & Ohio 4s "60. 75 Buff Roch & Pitt 4155 57. Beth Steel 4Yis ’60 . Chi Milw & St P 5s '75 . Chi Milw & St P 5s 2000 . Cleve Un Term 4Y%s '717 Col Gas 5s '61

Fruits and Vegetables

.(Quotations below subject to cha average wholesale prices PeroE 5 flefea “to Byer plocel comunistion dealer —Pears, re California Avocados. "20 Shes Oregon D’Anjou, C Bananas, selected, 1b., Ty He. ficisns Delicious, 24 $2.25; 3 diana Golden Delicious. 215 inches 2a inches up, $2; 2'2 inches up,

$2. 21 Xo . 1_Winesaps, 1th, ok Jnches $3 New York Imper als, 2%2 inches up, s7. Lemons. Sunkist, 298s, $7.50. Limes, MexEmp £arion 12s, Grapes—California mperors, 32-lb. ool $3.7 Tangerines, Yabox crate. 12 120s, SL. 1.13, Grapefruit, Texas fornia Bast Hor $4.505 50°" Ooh quats, Floridas, qt., 15c. Pineapples, 171.5 248s, crate, $3.75. Strawberries, Florida,

pt Vegetables—Artichokes, Plorida Bs SS bez, "oo ia Soaps Somegrowy, ; new Texas, 3 doz. crate, $1.75, Broly California, case, $3.50; busch, Xbb Brussel Eh Per 83c; new Texas Re 1.90. Car et y a: . bulk. bu, $ Cauliflower,

23 Virgini . 5c. torn I® oR 80s, $5: 5-1b. basket, $1.50. Endive, il Peppers, Mangoes, v 00%. 0 Mush oc. ustar Onions, 2 Sian: yellow. Western’ Spanish, 58 M $1.25. Oyster Plant, ic. Parsley, homegrown, doz., 40c; Soutni ern, Jarte bunch, 50c. Parsnips, homegrown, bu., 90c. Potatoes. Maine Green Mounting, 100-1h. bag, $3.40; Idaho Rusen HT, Rurals Rutab

.. $1 es $2.25, 5c; "WES 45¢c.

berg,

i California, doz, crate, $3; doz., rooms, Texas, vs 50-1. bag, T5c; Northern white,

wets, $3.8 rado MieChu ure i 50-1b, ba, diana Jersey ina lana Puerto Ricans, bu., |i hothouse, 2 ubar othouse, No 5-1b. sarty Buge, doz, i 45¢c. Spinach, Texas 7 55s Bhallots, doz., 35¢. Squash, Sanbare bu.,

$1. Turnips, bu . 10-10. drips. by by. . $1. Tomatoes, repacked.

$2. Is: Colo-

Rails Utils. Bonds 99.7x 105.4x 100.0 105.8 100.4 308, 9 100. 0s

New York Bonds

Can Pac Perp 4s . Cent Pac 5s ’'60 Big Four 4128 "717 sve Big Four 5s '63 Cosorado & So 4's ’80 . Chi & West Ind 4s Chi & Nor Wer

Chesa Corp 5s ’47 .. Del & Huds 4s ’43 N ¥ Dock 4s '51 .. NY Dock 8 ’38 ...

veev 36 Grt Northern “G” 4s ’46 ...... Grt Northern “H” 4s ’46 ...... Grt Northern 4'2s ’177 .. ve Gen Stl Cast WW 512s '49 .... Hur & Manhattan Ref 5s '37 111 Central 434s 0 Ill Central 2 415 Ili Central 5s 65 Interboro anid Trans 5s '66.. Inter Hy Elec 6s ’44 Inter Tel & Tel 4%2s ’39 Inter Tel & Tel 5s ’55 Inter Tel & Tel 4'as '52 . Lehigh Valley 4s 2003 .. McKess & Rob 5 Mo Kan Tex a Bs "67 Natl Dairy 334s ’51 Natl Steel 4s ’65 oe Nickel Plate 412s J s Nickel Plate 5'2s '74 .. N ¥Y Cent 5s 2013 N Y Oent 4ls yoo (old) . Cent fon S ve

New Qnieans Term 4s ’55 pa Otis Steel 6s ’41

Penn Ry 3%s Portland Gen El 4%: Para Publix 6s ’56 Penn P & L 4! Postal, Tel & Rem Rand

cersvenssnees 9513 Sou Pac i MY LL iiecinnireee. 98 Sou Rail 4s ’56 4 Sou Rail 6s ’56 Sou Rail 6s Texas Pac 5s ’79 ceceeeees 1063; Texas Pac 5s 17 esesees.106 Third Ave Adj 5S 60 v....... 40%; Union Pac 4s '47 '. 1143 United Drug 5s ’5 U S Rubber 5s 47 Warner Bros 6s ’'39 .. Western Mary 5%s '77 Western Union 5s 00 .e .10 Youngstown S & T 4s ’6 .104Y Youngstown S & T 3% si 125

FOREIGN Argentina A 6s 57 is wiania veins 10305 Australia 4'%2s ’56 10205 Brazil 8s ’41 s . 52 Canadian Govt o> 60 verse. -1100% Denmark 4 as . oy "8 German 5% 65 German ns 7) Italy 7s '51 ..... Poland Ts 47 Rome 628 ’52 .....e.ce.snnne Tokio. City 5128 '6) .seveossse Yokohama 65 ’61 ..X.......

Unlisted Stocks

(By Blyth & Co.) Bid Bankers Trust coigresereiens 76% Chase .......... iassevensnsess 5435 Central Hanover s..cesssses..237 Che veers 20%

mical . Sontineial Ilinois © oes 100% Guar on

Irving National City ... National Shawmut : First National Boston FIRE INSURANCE Aetna Fire Insurance American Ins of Newark ..... Baltimore American Franklin Fire

seeessssaenes 803% sessesnaneesr.1017,

anna 104

sesv.oevevese,

Great American Insurance.. National Fire Hartford ...... Hanover Fire . National Liberty North Riv . . Phosuix FE ‘ sinitiLalraie eases vs + 1 Westchester TIE leas vi.eiees 30%

COMMODITIES

Orders Executed in Futures in all Commodity. Markets

PRIVATE WIRES

W. L. LYDNS & CO.

Estab, 1878

MEMBERS:

New York Stock Exchange, New York Curb, Chicago Stock Exchange, Chicago Board of Trade.

40 N. Penn. St. LI-6563 Russell McDermott, Mgr.

PORKER MARKET CONTINUES DROP AT STOCKYARDS

160 to 200-Pound Weights Show Maximum Loss Of 15 Cents.

Reflecting the recent steady decline in fresh meat prices, the hog market today at the Indianapolis Union Stockyards showed continued weakness and quotations were

steady to 15 cents lower with weights of 160 to 200 pounds showing the maximum loss. Receipts totaled 6000 and holdovers 115. At the close 160 to 180 pounders sold for $10.15; weights of 180 to 200 pounds brought $10.20; 200° to 225 pounds were $10.25; 225 to 235 pounds, $10.20 and weights of 235 to 250 pounds were $10.15. Packing ‘sows were weak to 15 cents lower and most sales were $9 to $9.35, top $9.50. Weights of 250 to 260 pounds sold for $10.10; 260 to 275 pounders were $10; 275 to 285 pounds, $9.95; 285 to 300 pounds, $9.90; 300 to 325 pounds, $9.80; 325 to 350 pounds, $9.70, and the 350 to 400-pound class brought $9.60.

Heifer Trade Weak

In the lighter divisions, 150 to 160-pounders were $10; 150 to .155 pounds, $9.75; 140 to 150 pounds, $9.50; 130 to 140 pounds, $9.25; 120 to 130 pounds, $9; 110 to 120 pounds, $8.75 and the 100 to 110-pound class were $8.50. Slaughter steers and yearlings were steady to 25 cents lower with prices ranging from $8 to $10. Strictly good to choice 1111-pound steers were $11.75. The heifer trade was weak at Tuesday's 25-cent decline with most sales at $6 to $7.50. Cows. and bulls were steady. Common and medium beef cows ranged from $4.7 to $5.75, the cutter grades, $3.75 to $4.50. Top price for sausage bulls was - $6.50. Vealers were steady with Tuesday’s close and the good and choice kinds sold for $12.50 to $13. Receipts totaled 1700 cattle and 700 calves. No fed Western lambs and yearlings were received in the fresh supply of 1000 sheep. Trade was steady to weak. Most of the good and choice natives brought $10 to $10.25, top, $10.50. Slaughter ewes were steady and the bulk of the sales were $4 to $5, top, $5.50.

Jan, Bul 21, [email protected] 22. [email protected] 23. [email protected] 25 [email protected]

27. Light L (140- 6) Good and Medi

Light¥einhts (160-180) Good and m

ediu © (180-200) fod and lTedium Medium Wo aun (200-220) Good (220-250) Good BeAvTwaisie~ 250-290) Good (290- 350) Good

choice..$ [email protected] 8.50@ 9.75 [email protected] 9.25 10.00 . 10.006210.25 [email protected]

. [email protected] . [email protected]

choice.. [email protected] choice... .60@ 9.90

52 833

choice. choice.

d and and

and and

essevssessscse

ood (275- 500) Medium Slaughter Pigs (100-140) Good = and choice..

sssececocns

—Receipts, 1700— (550-900) oite .$

L232

C (900-1100) G

ND USS

C (1100-1300) G

AR AD —

M (1300-1500) 113. G esos [email protected] . He iters (500-750) “Geoa

mon, medium, (750-900) Good and choice. . mmon, medium.

8.2 5@ : 00@ 8.25 [email protected] .25

Pr S

Senta m R039 ¥!

Good Common and medium Low cutter and cutter. Bulls, good ~........ cutter, Com, ,......... Vealers neces, 700— Good ard choice .

Mediu Cull i medium ..... \ Calves (250-500) Sood and choice..$ 7.00 mmon, medium. fe and Stocker Cattle (500-800) Dood and choice..$ 6.50@ 8.25

mon, medium. (800-1050) Good and choice. . mmon, medium. Heifers—

Good and choice Shemini Common and medium ...... SHEEP AND LAMBS © —Receipts, -1000—

pumas oF

‘én —- SoH ooo oo0 D 09 a

ns on o ©

Lambs— Choice

seecscsssessnns

Jommon

Ws0- 175) Goog and choice.. 5.50 Common, medium. 3.00@ 4.50 be {Sheep and lamb quotations on clipped asis.)

esses ssssstrsanns

New York Stocks

(By Thomson & McKinnon)

High Amusements— Crosley Radio .. Loews Inc 12 Paramoyn

20th Centry Fox 4 5 Warner Bros Aviation— Aviation Corp .. Boeing Aircft ... Curtiss righ, . Curtiss Wr “A” Douglas Air .... Nor Am Av .... Sperry Corp ... Uni Air Lines .. Unitd Aircft New Trans Contl Wst tn

Building—

Am Radiator ... Barber Co Holland urnace c.

Lone anvils 18614

Johns Otis Elev 1200 ng

27%

U S Gypsum . Warren Bros

Chemicals—

Air Reduction .. 75 Allied Chem ....235 Col Carbon 120% Com Solvents Du Pon D3 Pons Tex v.. 29 Liquid Carb ..

U S Indus aon 39 Am Home Prod. 49% Drugs— Lambert Lehn & Fink ... Parke Davis ... Sterling Prod Un Drug (new). Vick Chem

Equipments—

Am Brake Shoe. 69% Am Car > PFay..

Am Loc Am Steel Fdy . Bald Loco Gen Am Tnk Car 7 Gen Elec sa RR Sig ... Soi Poor & Co 28 . 68Ys

Pullman Inc West Air Br 51%z Westingh Elec. 159% Financial— Adams Exp .... Allegheny Corp... Am Int Cor Comm Cred] t

Chesa Corp .... Transamerica

17 4Yg 15 6612 8

164

Armou 9% or Cream. 26

od ail Am Sugar Gen Baking .... 17 Gen Foods ... 43 G W Sugar .. Hecker Prod .... Holly Sugar .... Natl Biscuit .... Natl D Prod . Purity Bak S Porto Rico Sug Std Brands 15 Swift\ & Co Swift Intl .... Un. Biscuit ..... United Fruit ...

Household— Col Pal Peet..... Congoleum . Mchawk Carpet. Proc &_ Gam 18: Servel Inc .... Simmons Bed . Mining— Alaska Jun

82%

Ins Copper Int Nickel Kennecott Cop.. McIntyre Mine.. Park Utah Phelps Dodge St Joe Lead .... Vanadium

Miscellaneous— Allis Calmers Am C

Curtis Pub ..... Deere & Co .... Eastman Kodak. Foster Wheeler. .

1 Owens Bottle ...1f Rem Rand 3 3 Underwood EB... 97Y Worth’ton Pump 44 Motors— Auburn .ceeeeens - 302 Chrysler ... . Gen Motors « Graham Motors. Hudson Mack Truck .... 47 Nasn 2

Stdebaicer White Motors. Yellow Truck ...

Motor Access—

tr 43 . 26% 217s

265 «43 792 54 13% . 10% 1fg 3415 Blec Auto Lite.. 41!% Elec Stor Bat .. 43's Greyhound New. 15% Houdaille 25% Motor Wheel ... 33 Stew Warner 3% Timken Det, Axle 2 Timken Roll Oils—

Atl Rfg Barnsdall

Houston (new) .. Mid Cont ePt .. 3

Phillips Pet Plymouth Oil Pure Oi ve. Canker State Seaboard Oil

Shell Un .... Shelley oil

Low

24 71s 27

367s

12% .

- ot WB SO BD C1 69 © 00 6d 4h 14 4h oF 18 = 00 00 ©) U1 Cd ibs

fo parry

—-

10 AM,

24a .

—

bdr

[oY

BEE FES

N= 0008 HRS RB

- Pr

‘Marshall Field ..

$1.26 for No. 1 red wheat.

More Convenient LOAN Terms

are available with a

Celtic EEDERAL MORTGAGE LOAN

Principal and Interest Reduced Monthly

Texas Corp .... Tidewater Assn Un Oil of Cal....

Bailie

Atchis Atl Coast Lines.

Di Del Lac & W . Gt Northern pid Co anes 1 Lehi alley . Nash .... 89

ash West: Maryland . Retail Stores—

Allied Stores ... Assd pry Goods.

Kresge 8S S Kroger roc Macy . McCrory 8c. McLellan St

LARGER MARKET SUPPLY OF HOGS SEEN BY BUREAU

Increase in Slaughter During

Present Season Placed At 12 Per Cent.

Times Special WASHINGTON, Jan. 27.—The in spected slaughter of hogs during the 1936-37 marketing season (October through September), probably

will be from 12 to 16 per cent greater. than in 1935-36, the Bureau of Agricultural’ Economics said today in its January summary of the hog situation. The extent of the increase in hog slaughter, however, the Bureau pointed out, will depend partly on the prospect for corn production in 1937 and partly on the proportion of hogs going into inspected slaughter from areas outside the corn helt. This increase in slaughter sup= plies is somewhat larger than was

May Dept St . 62 Mont Ward ... Natl Tea Penney J Safeway St . Sears Roebuck. . Woolworth

Rubbers—

Firestone Go Cc Goodyear ; U S Rubber ... U S Rub pid... Steels— Acme _ Steel Am Roll Beth heel] Byers A M Cruc Steel 302 Inland Steel ... “ig Ludlum Steel .. 3 MeKesstors Tin 851% Mid 383% Natl ag

Mills. .

Dp Youngst'n g§ &T Textiles— Amer Woolen .. 133% Belding Hem ... 1334 Celanese Corp .. 307s Collins Aikman. 6012 Gotham Hose ... 117% Indus Rayon Tobaccos— Am Tobacco ‘A’. am Tobacco “B”

vee

981% 9%

VRID 1D MDW

wil Co of

rillard Reynolds Tob ‘B’ 2a Utilities— Am & For Pwr.. 1214 Am _ Power & Lit 133% A 183% t Wks... 263s Col Gas & Elec. 177%; Comm & Sou . 358 Consol Gas . 47 Elec Pwr & Lit.. 22% jntervore BRT .. 12%; Int T & T ..... 12% G & E ‘A’. 237s Not Pwr & Lit. 127% North Amer ... 31 Pac GC & B .... 354 Peoples Gas ... 53 Pub Serv NJ ... 52 Std Gas 34

/4 Stone x susie 2934 United Lorn T% Inn | 15% t A’ 4

op Sar L 4 Western Smion . 8012 793

AUTO OUTPUT DROPS

Times Special DETROIT, Jan. 27.—Automobile output dropped to 73,509 units for the week ended Jan. 22, from 92,639 units the previous week, according to Ward’s Automotive Reports.

Chicago Grain Futures

(By James E. Bennett & Co.) 10:00 Prev. High. Low, A.M. Close.

1. 28

Lis

We DD 00 HA a J w NOX, sn

caveeres 1.00% ¥ erveenys 1.02% . sissuraee 9935

caserase 1: 30% 1.0 os 23 Soy Beans— Mey . 1.57%

1.57} 4b L 37s ) VBid: 's sellers.

LOCAL CASH MARKET City grain elevators are paying Other grades on their merits. Cash corn now No. 3 yellow, 99c. Oats, 44c. Hay—No. 1 timothy, $13.50@14; No. 1 clover, [email protected]; No. 1 aifalfa, first cutting, [email protected]; second cutting, [email protected].

estimated by the Bureau in Novems= { ber. Following the drought of 1934, the fall pig crop that year was

{ ¥ | sharply reduced and it was generally

| expected that a similar situation lw ould. occur in 1936, since the a cut, feed grain production | almost as severely as in 1934, the re« port said. The Dec. 1 pig crop re= port, however, disclosed that tha 1936 fall pig crop was 6 per cent larger than that of 1935. Corn Price Is Factor

Slaughter of hogs was very large in the first three months of tha present marketing season, October December, because of the shortage and high price of corn, the sum« mary declared, and it is probable that a larger than usual proportion of the spring pig crop was marketed in those months, as has occurred in other drought years. Consequently it is expected, tha bureau said, that slaughter supplies 1 of hogs during the first threq i months of 1937 will be reduced con ' siderably from the December fige ures. Total supplies for the re mainder of the marketing year, January through September, 1937, , probably will be somewhat smaller {than those of a year earlier, with most of the reduction occurring in February and March and in the late | summer, according to the summary. The heavy run of hogs this fall

2 was reflected in the Jan. 1 storage

| report, which showed considerably larger supplies of hog products in storage than a year ago.

Investment Trusis

(By Thomas D. Sheerin & Co.)

Administered Fund 2d ‘Affiliated Fund Inc (new)... American Business Shares ... Broad Street Investing *Bullock Fund Ltd Century Shares Trust Corp ‘AA’ or ‘Accum’ Corp ‘AA’ or ‘Acc’ (unmod.) Corp Trust Shares (orig.).. Diversified Trustee Shs ‘B’.. Diversified Trustee Shs ‘C'.. Diversified Trustee Shs ‘D’.. *Dividend Shares Inc . Fundamental General Investors Trust Incorporated Investors .. . Market Street Invest Corp... Maryland Fund Massachusetts Investors Mutual Investment Fund Nation-Wide Voting North American Tr Shs 1955 North American Tr Shs 1956 North Amer Tr Shs (orig.). *Quarterlv Income .Shs (new) Selected Amer Shs Inc {Hew) Selected Amer Shs (orig.).. Selected Cumulative Shares. . Selected Income Shares State Street Invest en lala Supervised Shs Inc (Del... Trustee Am Bk B . Trustee Standard Oilshs ‘A’ Trustee Standard Oilshs ‘B’ *Ex-Dividend.

SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

COMPLETELY AIR-CONDITIONED

Lv. INDIANAPOLIS 4:10 a. m, daily C. T. (Sleeping cars open at :00 p. m.

Ar. TAMPA T:35 a.m.

Fast, direct service to both coasts of Florida. Only on the Florida Sunbeam can you visit the East coast and West coast of Florida and Asheville, N. C., at no extra rail cost. Modern equipment; bedroom, drawing room, compartment and section Pullman cars; buffet-lounge car; dining car.’ Through,

air - conditioned coac

In nd & Mich Elec ‘Co pfd 7s. Ind Gen Serv Co 6s _~Ind Hydro Elec Co Ts dpls Gas Cocom 6s .... ... Indpls Pwr & Lit Co pfd 6s.. 95 Indpls Pwr & Lit Co p} g 612s. . Indpls Water Co pfd 59 . ..104 N Ind Pub Serv pfd 5% 4 4

Indianapolis to Miami.

BEMIS : LETTER SERVICE wo Noam

303-307 Merchants Bank Bldg. LI-6122

iS GE

Thomson & McKinnon

NEW YORK CHICAGO TORONTO SOUTH BEND FT. WAYNE EVANSVILLE BOSTON

Indianapolis Office ; 200-214 CIRCLE TOWER LI 5501 a i EM = => Lely DO |

Loans on one to fourfamily dwellings in Marion County solicited.

OUR INSURED SAVINGS ACCOUNTS ARE NOW EARNING 39, DIVIDENDS

Ar. ST. PETERSBURG 9:30 a. m.

Ar. W. PALM BEACH 9:55 2. m.

tr. MIAMI 11:30. m.

TYPENMITTEN LETTERS AUTOMATICALLY TYPED AGORESSING SS MAILING MULTIGRAPHING STENCILS CUT MIMEOGRAPHING RULED PORMS

Two other fine trains to Florida

PONCE DE LEON ROYAL PALM Lv. Indianapolis 5:40 p.m. Lv. Indianapolis 4:20 a.m.

Reduced rail fares—buy a round trip ticket and save. Take your automobile by rail for one extra passenger ticket—at 4¢ per mile when 2 or more travel in Pull. man cars.

Progress Laundry Co Pub Serv Co of Ind pfd 6s.... Pub Serv Co of Ind 7s Terre Haute Elec Co 6s Union Title Co com

ATTRACTIVE CHAIN STORE ISSUE Write for Prospectus B. PARRO TT

Investments 402-403 Guaranty Bldg.

MEMBERS

York Stock Exchange. York Curb Exchange. York Cotton Exchange. New York Coffee and Sugar Exchange. New Orleans Cotton Exchange. Chicago Stock Exchange Chicago Board of Trade. Winnipeg Grain Exchange.

New New

J.N. Lemon, D. P. A:, 108 E. Washington St., Indianapolis, Tel. RT ley 2442

NEW YORK CENTRAL SYSTEM " D.R.Thompson,D.P.A.,426 Merchants Bk.Bldg.,Indianapolis,Tel.RIley 3160

SOUTHERN RAILWAY SYSTEM SEABOARD AIR LINE RAILWAY

EDERAL

SAVINGS ¢& LOAN LOAN ASSOCIATION

of Indianapolis 4 Block West of Meridian’

And other leading Exchanges.

Indianapolis LI. 2710

LS) i

23 W. Ohio St.